Direxion Daily Correlations

DRN Etf

USD 9.98 0.32 3.11%

The current 90-days correlation between Direxion Daily Real and Direxion Daily South is 0.35 (i.e., Weak diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Direxion Daily moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Direxion Daily Real moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Direxion Daily Correlation With Market

Very weak diversification

The correlation between Direxion Daily Real and DJI is 0.5 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Direxion Daily Real and DJI in the same portfolio, assuming nothing else is changed.

Check out Investing Opportunities to better understand how to build diversified portfolios, which includes a position in Direxion Daily Real. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in metropolitan statistical area.

Moving together with Direxion Etf

0.61	UYG	ProShares Ultra Fina	Pair Corr
0.8	IRET	iREIT MarketVector	Pair Corr
0.7	PG	Procter Gamble	Pair Corr
0.65	T	ATT Inc Earnings Call Tomorrow	Pair Corr
0.69	CSCO	Cisco Systems	Pair Corr
0.61	JNJ	Johnson Johnson	Pair Corr
0.63	IBM	International Business	Pair Corr
0.62	MCD	McDonalds	Pair Corr
0.61	KO	Coca Cola	Pair Corr

Moving against Direxion Etf

0.55	MRK	Merck Company	Pair Corr
0.32	AA	Alcoa Corp	Pair Corr

Related Correlations Analysis

	KORU	MIDU	INDL	MEXX	DUSL
KORU		-0.05	-0.5	0.75	0.25	KORU
MIDU	-0.05		0.53	-0.26	0.88	MIDU
INDL	-0.5	0.53		-0.48	0.16	INDL
MEXX	0.75	-0.26	-0.48		0.05	MEXX
DUSL	0.25	0.88	0.16	0.05		DUSL
	KORU	MIDU	INDL	MEXX	DUSL

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Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

DUSL	+ 0.88	MIDU
MEXX	+ 0.75	KORU
INDL	+ 0.53	MIDU
DUSL	+ 0.25	KORU
DUSL	+ 0.16	INDL
DUSL	+ 0.05	MEXX

High negative correlations

INDL	- 0.5	KORU
MEXX	- 0.48	INDL
MEXX	- 0.26	MIDU
MIDU	- 0.05	KORU

Direxion Daily Constituents Risk-Adjusted Indicators

There is a big difference between Direxion Etf performing well and Direxion Daily ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Direxion Daily's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
KORU	3.54	0.32	0.05	0.06	4.37	(3.71)	7.62	(7.16)	19.42
MIDU	2.55	(0.32)	0.00	(0.18)	0.00	0.00	3.89	(6.38)	12.22
INDL	1.37	(0.19)	0.00	(0.31)	0.00	0.00	2.79	(3.24)	7.38
MEXX	3.41	0.16	0.03	0.04	4.76	(2.95)	6.37	(6.90)	15.54
DUSL	2.36	(0.03)	0.00	(0.08)	0.00	0.00	4.17	(5.11)	13.09

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